Nov. 19, 2012 (China Knowledge) - Zhejiang Communications Investment Group Co Ltd has announced it plans to issue RMB 2.4 billion in medium-term notes with a maturity of ten years in the interbank market on Nov 26.

The company said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building.

Both value and payment due date is set on Nov 27, and the to-be-issued notes tradable Nov 28.

All the proceeds from the issue will be used to repay bank loans, said the issuer.